The company that became Alfa Romeo was founded as Società Anonima Italiana Darracq (SAID) in 1906 by the particular French automobile firm of Alexandre Darracq, with Italian investors. In late 1909, the Italian Darracq cars were selling slowly and the Italian partners of the company hired Giuseppe Merosi to design new cars. On 24 06 1910, a new company was founded named A. L. F. A., initially still in partnership along with Darracq. The first non-Darracq car created by the organization was the 1910 24 HP, designed by Merosi. A. L. F. The. ventured into motor race, with drivers Franchini plus Ronzoni competing in the particular 1911 Targa Florio along with two 24-hp models. In August 1915, the business came under the direction of Neapolitan entrepreneur Nicola Romeo, who converted the factory to produce army hardware for the Italian language and Allied war initiatives. In 1920, the name of the company had been changed to Alfa Romeo along with the Torpedo 20–30 HP the first car to be so badged.
In 1921, the Banca Italiana di Sconto, which backed the E. Nicola Romeo and Company, went broke and the particular government needed to assistance the industrial companies involved, among that was Alfa Romeo, through the "Consorzio for each Sovvenzioni sui Valori Industriali". In 1925, the railway activities were separated through the Romeo company, and in 1928, Nicola Romeo left. In 1933, the state ownership was reorganized under the banner of the Istituto per la Ricostruzione Industriale (IRI) by Benito Mussolini's government, which in turn experienced effective control. The business fought to return to profitability after the Second Globe War, and turned in order to mass-producing small vehicles as opposed to hand-building luxury models. Within 1954, it developed the particular Alfa Romeo Twin Cam engine, which may remain in production until 1994. Throughout the 1960s and 1970s, Alfa Romeo produced a number of sporty cars, but battled to make a profit, so Istituto per la Reconstruzione (IRI), the condition conglomerate that controls Finmeccanica sold the marque in order to the Fiat Group within 1986.
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